Social Entepreneurship Social Entrepreneur a Term Paper
- Length: 15 pages
- Sources: 15
- Subject: Business - Management
- Type: Term Paper
- Paper: #11649126
Excerpt from Term Paper :
Competitor products and their equivalent prizes, this is so that after establishing our break-even analysis it can act as a guiding line to set the best price. (Tao 2008)
The survey should enable one establish the best marketing strategies and anticipate any future contingencies.
Entrepreneurship development services
This service will target individuals who wish to start business on their own or in a group it will mainly involve
Training on how to originate business ideas. It is said that if you feed a man you have only feed him a day, a long-term problem in a short-term way. If you show the man how to fish then you have feed him and his family for life and I add that if you show the man how to run a fish business you will have feed the society too. In his book Rich Dad Poor Dad, Kiyosaki explains that the most important skill is how to create business opportunities i.e. seeing with the mind what others fail to see with their eyes. Slum dwellers might not be very educated but with a purpose, creativity and the skill of business entrepreneurship you are set.
Sourcing for information to support the idea through market research.
Sourcing of funds to support the business to enable some margin to operate effectively.
Coming up with plans to execute the idea, the outcomes of plans are sytems, procedures, activity flow charts and budget.
Social entrepreneurship is perhaps the easiest way to become rich as elaborated by Haanel in his eBook the science of getting rich."Give every man more in use value than you take from him in cash value, then you are adding to the life of the world by every business transaction." (Tao 2008)
ORGANIZATIONAL STRUCTURE and the DEPARTMENT
The organizational structure will relate the marketing department to the organization as a whole.
Illustration of organizational structure (Tao 2008)
ROLES and RESPONSIBILITIES of the MARKETING TEAM
The roles of the marketing department will include planning and decision-making, the actual network selling, records and tracking costs, computer related tasks, transport and supply model management, and market research it will involve mainly.
1. Building the right sales strategy, Market quotas/niche, and setting most suitable price(s), individual sales strategies for different market niche/segments.
2. Conducting market research: given the contact with actual market and individual customers, we will be in best position to carry out research and data gathering for our potential customers.
3. Training and motivating the team involved.
4. Building necessary cost projections and sales estimates to enable tracking sales revenue against set goals; also drafting the initial books of account for the department.
5. Working in coordination with other departments to harmonize / synchronize the organizational/accounting, production and marketing processes, e.g. defining optimal productivity (production, revenue & cost curves/graph), marketing the organization as a whole through magazine and website, ole.
6. Managing the sales process and its continued improvement,
7. Getting the actual sale: this includes organizing non-bulk transport of product to individual customers, following up potential customers to lock in the sale.
Illustration of marketing department roles (Tao 2008)
This section will explain the choice of marketing strategy and its advantage over other marketing strategies. It will also explain in detail the network strategy.
Stakeholder Analysis (Beneficiaries)
The main beneficiaries from organizational activities are mainly
The slum dwellers will benefit from better housing and minimal rent
The youth will gain from employment opportunities in Manufacturing of bricks and others will be in recycling process later construction of the houses.
The Urban surrounding will benefit from better sanitation and drainage
The Business environment will benefit from the construction purchases especially the raw materials. In this category are also professionals who stand to benefit from construction activities like architects and masonries.
The government will indirectly benefit from decreased crime rate, Health issues from their citizens especially from the slums and is likely to benefit from benefits of having patriotic citizens.
The slum dwellers will benefit from entrepreneurship development services since those who will seek the services will mostly run successful businesses hence improving their lifestyle
Means of reaching to the beneficiaries
The easier way to approach the slum dwellers is by approaching them if there are any registered groups through the chairman of the individual groups. This has the advantage in that one gets to know the people, know what they do, and get a feedback of what they think about the proposed project. Such meetings also help to customize your proposal better. The business community, if approached directly one can offer financial and professional advice to the organization which will go a long way to ensuring the success of the entire project from manufacturing, distribution and marketing (Dumashie, 2004)
The government through the appropriate ministry can facilitate the inhabitants of slums especially if the activities in question provide better governance.
CAPITAL, HUMAN and PHYSICAL RESOURCES REQUIRED
The organization will start with a minimum of four partners mainly a specialist in Finance, Marketing, production and a financiar.Interlocking department requires at least 4 casuals for the manual machine and seven for the hydraulic machine. Initial capital required will depend on the demand of the organization products and the finance specialist will create a partners account which will enumerate the partnership deed and important clauses therein (Yukseker 2009)
A group of investors are considering investing in and building a family of nursing homes. They require a feasibility study to be conducted as to segment attractiveness and to assist them in creating the marketing mix.
1. Considering the appropriate variables of demographic, benefits, geographic and psychographic sought, the meaningful segments are being able to measure, access, differentiate and act on these particular segments (Peter & Donnelly 2006).
2. Given the guidelines for segment attractiveness in the text, the segments that are most attractive include benefit sought where the market is as per the different benefits consumers seek from the product and psychographic where the market is classified according to lifestyles, personal characteristics or social class (Peter & Donnelly 2006).
3. Given the targets a marketing mix strategy that will serve the market as well as the investors would include Price where this concept is determinant of the number of consumers who would develop interest in the housing. It is believed that the lower the prices the larger the number of customers (Peter & Donnelly 2006). Promotion would be another consideration given the targets as this can be used to create awareness and advertise the company's houses.
The 7s entails a framework that will help in management. These will include strategy which involves having a set that involves the actions that you have to start with and which must be maintained throughout. The second is structure will involve the organization of people as well the tasks that are to be taken. Third are the systems that will comprise of the various processes as well as information that help in bringing the entire organization together. Fourth is the style adopted by the managers that define how they should behave? Staff is the fifth component that entails how the organization is in a position to develop managers both at the moment and future. Organization must have goals that are super ordinate which defines the long-term vision helping to shape the future and destiny of the organization performance. The last one is the skills. This will involve the attributes that are dominant in terms of the capacity of the members who make the organization. These strategies in the change management adapted by the managers will ensure that the organization is successful.
Partners will agree to treat the business as a separate entity and therefore bound to each other to share realized returns in the following manner.
i) Wages to be paid to a member who performs specific business as agreed prior by the business.
ii) Net income/Loss to be shared monthly or otherwise depending with the nature of transactions in the period.folowing the guide
a) Divided to members -60% of income/loss
b) Marketing & Research provision -20%
c Reserve a/c (Contingencies) -20%
For example; Business loss, Machine Repairs, Depreciation
EXPECTED CHALLENGES & RECOMMENDED REMEDIES
Possible malfunctioning or Loss of brick machine -- Client to sign a contract on the safety of the machine and we ensure that one of the casuals is ours.
Vandalism of Brick walled advertisement boards-Liaising with outlet retailers to keep watch of the same.
Delays in payment by clients -- Always ensure that the deposit is sufficient to at least break-even before engaging a client.
Print Marketing can result to large orders which we may not manage due to capacity -- Assurance by financier to acquire additional incubator with supported orders.
GROWTH STRATEGY (WINNING STRATEGY)
Increased promotion effort will lead to increased enquiries and consequently more work. All partners understand that it was and always will be a great advantage to have passion and curiosity for anything today more than before because so many tools…